It comes as a shock to many, therefore to learn that the majority of the labor force in the United States works for government, unincorporated busine… - Neil H. Jacoby

A fourth factor underlying the merger wave of the 1960’s was the steep rise in the load of corporate income taxation since World War II. In 1940, the effective federal corporate income-tax rate was 27 percent; in 1968, it was 50 percent. Rates of state and local taxes on business incomes have risen commensurately.

Although the Marxist antithesis to the capitalist thesis has been vigorously advanced for more than a century, it has never gained significant support in the United States. Marxist voices have, during recent years, been drowned out by the complaints of the Reformers, on the one hand, and of the Utopian critics, on the other.

The primary difficulty is the problem of determining what the interest of business is.At any given time, business corporations are split on many national issues; there does not appear to be a monolithic ‘business interest.’ Thus, petroleum companies have opposed liberal oil import quotas, while petrochemical companies have favored them in order to obtain less expensive feedstocks; steel companies have sought restraints upon imports of foreign steel, whereas automobile companies and other large users of steel have fought them; and even with respect to such matters as labor union legislation or antipollution regulation, businessmen are far from presenting a united front because firms in some industries are much more deeply affected than those in other industries.